DROP IN PRICES

Dominion, Volume 13, Issue 217, 8 June 1920, Page 5

DROP IN PRICES

SUBSTANTIAL REDUCTIONS IN ENGLAND

DECLINE IN WOOL GERMAN YARN-MAKERS INVADING ENGLISH MARKET By Toleeraßh—Preß3 'Association—Copyrisht, London, June 5. Tho Board of Trade has not vet collated the latest prices in the various trades, but it' is stated that undoubtedly substantial reductions are visible in a number of-directions owing to the removal of control, the reintroduction. of competition, the deterrent action of the Profiteering Act, and the public determination not to purchaso till prices lowered. Tho refusal by the banks to make further advances is making firms anxious to unload stocks accumulated in anticipation of further rises. Drapery, grocery, and boot prices have declined 5 to 10 per cent There is a movement among some of the largo houses to convince manufacturers that their interests coincide, and for the necessity of gradually reducing' prices, in order to avoid a crash. i The "Yorkshire Observer," commenting on the decline in wool, warns hesitant overseas buyers of manufactured goods that Bradford knows how to'prevent a disastrous slump, though at the same time desiring to lower the level of values. The "Observer" adds: "They should realise that it is always within the power of vendors of colonial wool to apply the brake." Manufacturers admit that German yarn-makera havo begun an invasion of tho English market, and are underselling local firms. The Germans used tops combed in Prance, where the plants are producing at full speed and cheaply. -Aus.-N.Z. Cable Assn. COAL RATIONING TO CEASE MEASURES TO PREVENT .■ PROFITEERING. London, June 5. Official: The rationing of housohold coal ceases on June 7. While pit-head prices will be controlled as hitherto, the control of wholesale and retail prices oease9, but measures will be taken to prevent 1 profiteering. Dealers and house, holders art) urged to secure reservo stocks during the summer. Control for export and bunkering will continue—Aus.-N.Z. Oablo Assn.